Ava Labs Launches Blockchain Solution to Manage Intellectual Property Rights for Korean K-pop Artists

Ava Labs is using Blockchain technology to provide intellectual property management for K-pop artists in South Korea. According to a report by Allied Research, the K-pop industry is expected to be valued at $20 billion by 2031. Justin Kim, the head of Ava Labs in South Korea, said that blockchain technology can provide unprecedented transparency and efficiency for artists, especially in live music and events, to solve the problem of underreporting ticket sales. The application of blockchain technology in the music industry continues to expand. Wu-Tang Clan's Ghostface Killah released original music containing Bitcoin Ordinals inscriptions, and heavy metal band Megadeth provides holders with a unique experience through the distribution of non-fungible tokens.